Peregrine Financial Group CEO indicted for lying to regulators

Reuters

Aug 13 (Reuters) - Peregrine Financial Group CEO RussellWasendorf Sr. was indicted on charges of making and using falsestatements to regulators, the U.S. Attorney's office in CedarRapids, Iowa, said on Monday.

The indictment, which carries a possible maximum sentence of155 years in prison and a $7.75 million fine, comes a littlemore than a month after Wasendorf confessed to bilking customersof his Cedar Falls, Iowa-based brokerage of more than $100million over nearly 20 years.

He was arrested on July 13, five days after he attemptedsuicide near his company's headquarters. Peregrine Financialfiled for bankruptcy on July 10.

Wasendorf is being held in a county jail and his nextappearance for an arraignment has not yet been set, the U.S.Attorney's office said.